Friday, 4 January 2013

HR News Headlines

India GDP Likely To Grow 6.8% In 2013 : Dun And Bradstreet
The Indian economy is likely to grow at a rate of 6.8 percent in 2013 on the back of reforms announced by the Government, according to international research company Dun & Bradstreet (D&B), The economy is likely to clock 5.5 percent growth rate during 2012, well below the rate achieved in the year before, as per the D&B report. Arun Singh, senior economist at D&B India, said GDP is likely to register a growth rate of 6.8 percent during 2013 as policy environment looks up and investment conditions improve. India’s growth rate had slid to a nine-year low of 6.5 percent in fiscal 2011-12. The country is likely to see industrial activity pick up and a modest improvement in the services sector during 2013. This would support growth, the report said.
Source : 31-12-12   Hindu Business Line   Compiled by
Govt Framing New Policy To Boost Jobs
With the job scenario looking grim, the labour ministry has prepared a National Employment Policy (NEP) that may outline a raft of changes in labour laws and industrial policies to boost employment and ensure good working conditions for workers.The new job policy will be in conformity with the 12th Plan growth target, and might propose changes in various laws like the Minimum Wages Act, Contract Labour Act and EPF Act to bring a major chunk of workers in unorganised sectors under the ambit of the formal sector. Strict labour laws have kept 93 percent of the workforce in the informal sector, mainly in agriculture, small manufacturing units, construction and trade. One of the major proposals is to amend the Minimum Wages Act to make it applicable to all workers across the country.
Source : 30-12-12   Financial Express   Compiled by
Manaufacturing Units Are Moving to Indonesia and Cambodia
Chaly Mah Chee Kheong, Deloitte CEO for Asia Pacific, said multinational companies are moving away from China and Japan to smaller economies in the Asia Pacific region for the purpose of establishing production units. Increasing labour costs and stronger currencies have had a negative impact on the competitiveness of these established manufacturing centres of the world. Multinational companies are therefore scouting locations in Indonesia, Cambodia, Vietnam, the Philippines and Thailand for setting up manufacturing units. India must provide licences and approvals faster to attract more investments, he added. India has an advantage over China as its economy relies more on domestic consumption. However, India’s manufacturing sector contributes only 16 percent to the economy, which is not enough when measured by global standards.
Source : 31-12-12   Financial Express   Compiled by
Shree Narayan Sabharwal is The Business Head, Simba Toys
International toy-maker Simba Toys has appointed Shree Narayan Sabharwal as its Business Head in India.Mr. Sabharwal joins Simba from Future Group, where he headed the toys and sports category, across all formats such as Big Bazaar, Pantaloon, Central and Home Town.He has also worked with Arcus Stores, Times Guarantee in the past. With a specialisation in toys and sports, Mr. Sabharwal brings with him over 15 years of retail experience.Mr.Sabharwal will be responsible for the overall operations and expansion of Simba Toys in India, including sales, marketing, distribution, brand expansion and strategic tie-ups.
Source : 28-12-12   Hindu Business Line   Compiled by
OECD: Indian Women Work 94 Min More Than Men Daily
In India women work an average 94 minutes per day more than the men, according to a report by the Organisation for Economic Cooperation and Development (OECD). The difference is the largest among the 30 countries surveyed. The report on gender and employment said women’s participation in the labour force has increased but there are large gaps in working hours, working conditions and earnings. Across the member countries of the OECD, women spend an average 21 minutes more at work each day than men. However, in countries such as Denmark, Sweden, Norway, the Netherlands and New Zealand, men work slightly longer than women on a daily basis. The report further says that in OECD nations males earn, on average, 16 percent more than females in similar full-time employment.
Source : 20-12-12   Indian Express   Compiled by
Hay Group: CEO Pay To Rise By Average 9% In 2013
Global management consultancy Hay Group has some bad news for chief executive officers (CEOs). According to its recent annual ‘Top Executives Compensation Report 2012-13’, compensation of CEOs is set to increase only by a modest nine per cent next year.The top management teams will do a tad better, logging a global, all-industry average hike of 9.4 per cent in the coming year. However, the report also revealed that companies’ expenditure on rewards and compensation of CEOs is thrice that on anyone else’s remuneration, including that of the executive just below the top honcho. The report covers about 158 organisations across a variety of sectors including auto, chemicals, basic resources, oil and gas etc.
Source : 20-12-12   Hindu Business Line   Compiled by
Cos Scrap Night Shifts For Women, Beef Up Security
Some KPO and BPO firms have done away with night shifts for women after the rape incident in Delhi. Also, some have beefed up security measures, such as not allowing women employees to travel alone in a cab and deploying fewer hired cabs. Many companies which have exempted women from night shifts feel it is possible to have women working only during the day if logistics are managed properly. However, NASSCOM has termed it as a retrograde step. Some in the industry feel it would deny women the opportunity to move ahead. Companies need to adopt safer practices and implement them, said K Jailakshmi, director of a pharmaceutical BPO.
Source : 20-12-12   The Hindu   Compiled by
India, ASEAN Finalise FTA In Services, Investments
India and ten countries in the ASEAN region finalised a Free Trade Agreement (FTA) in services and investments at the ASEAN-India Commemorative Summit. The move will lead to Indian professionals such as engineers and doctors getting easier access to the South Asian markets. The summit was attended by heads of states of nine Southeast nations and Vice-President of the Philippines. Upon its implementation, the pact is expected to make it easier for professionals to move within the ASEAN region. Business people, including contractual service suppliers, and professionals in accounting, architecture, engineering services, medical and dental, nursing and pharmacy, computer services and management consulting stand to gain from it. Addressing the summit, Prime Minister Manmohan Singh said he was hopeful of bilateral trade exceeding $100 billion by 2015 and $200 billion by 2022.
Source : 22-12-12   DNA   Compiled by
PWC India Top Leader Quits
Ambarish Dasgupta, PwC India’s national consulting leader and executive director, has put in his papers after serving the firm for over two decades. His last working day at PwC is yet to be worked out. He has been leading large business transformation projects covering strategy, process, technology and organisational change at PwC India’s consulting practice. He was also on the board for PwC Solution Delivery Centre, a joint venture of PwC’s India, Australia, Canada and few other practices. Mike Surface, Advisory leader PwC India, will look after the Consulting practice now.
Source : 19-12-12   Financial Chronicle   Compiled by
New Cos Bill Removes Cap On Pay Of Board Members
The new Companies Bill 2011 has virtually removed the cap on remuneration of a company’s board members, subject to conditions. The Bill was passed by the Lok Sabha. As per the extant Companies Act of 1956, companies had to obtain government clearance to increase the remunerations of board members beyond a cap, i.e., 11 percent of the profit. Approval is needed if the aggregate remuneration of board members crossed this limit. Now, as per the new Bill, companies can pay as much as they wish to these senior executives provided the corporates make disclosures to shareholders and also reveal the amount in their books. A company would also be required to reveal the average salary of an employee to its shareholders. This will ensure transparency and reduce disparities in remuneration.
Source : 20-12-12   Financial Express   Compiled by
United Nations Slashes Forecasts For Global Growth
The United Nations slashed its global growth predictions to 2.4% for 2013 and 3.2% for the following year and warned of a lasting employment crisis for western countries.Debt crises in Europe and the US and a slowdown in China could all plunge the world economy into recession, warned the UN’s World Economic Situation and Prospects 2013 report.The growth predictions are a major cut from the UN forecast of six months ago when it predicted 2.7% for 2013 and 3.9% for the year after.“With existing policies and growth trends, it may take at least another five years for Europe and the US to make up for the job losses caused by the Great Recession of 2008-2009,” said the report.
Source : 19-12-12   Mint   Compiled by
Assocham Study: Bad Bosses Cause Staff To Quit
A survey by the Associated Chambers of Commerce and Industry of India (Assocham)says majority of employees quit because of bad bosses rather than for the sake of better opportunities, Financial Express reports. People are leaving their jobs because they are fed-up with their current boss, the survey said. Around 70 percent of the survey participants cited the indifferent attitude of bosses or immediate supervisors as the reason behind employees resigning. Majority of respondents said a good work environment was much more important than the salary. Around 62 percent said they had an abusive manager, the study said. Bad bosses could cause health problems among employees, according to the study. Assocham Secretary General D S Rawat said managers can have a huge impact on employee retention and turnover and must be selected carefully. The survey polled 2,500 executives.
Source : 19-12-12   Financial Express   Compiled by
LG Electronics India Loses CMO
LK Gupta, Vice President and Chief Marketing Officer at LG Electronics India, has quit the company. Speaking on his decision, Mr. Gupta said, “After five years of super experience, I leave LG Electronics with a heavy heart.” He would be with the company till the end of December.
Source : 19-12-12   Exchange4media   Compiled by
Job Market To See Modest Hiring Next Year
After remaining mostly stagnant in 2012 due to the global economic slowdown, Indian job market is expected to grow only at a modest pace next year, although still better than other countries, while high-performers can look forward to pay hikes of 10-15% in 2013. The public sector could emerge as the major ground for any large-scale hirings, especially banks, even as recruitment activities in human capital intensive sectors like technology, as also for functions like sales and marketing in other sectors, would track the macro-economic developments. The hiring numbers for public sector banks are expected in the range of 50,000 to 70,000 people in 2013, while the private sector banking space could also see a fair amount of such activities if licenses are given to new players.
Source : 21-12-12   Business Standard   Compiled by
Coimbatore, Nagpur Among Top Tech Talent Cities
Coimbatore and Nagpur feature among top 40 cities worldwide where tech talent can be hired in the future. A study by independent advisory firm Zinnov on the Next Frontier Cities for Technology Talent, which covered 400 cities, identified 40 locations as being best suited to produce the best technology talent. These cities have a good education ecosystem and offer viable options for launching small- to medium-sized operations. Among the cities identified by the study, nine were located in North and South America each, 12 in Europe, West Asia and Africa, and 10 in the Asia-Pacific region. The study found that the cost differential between established locations such as Silicon Valley and Next Frontier cities in the Asia-Pacific region was 86 percent. Zinnov CEO Pari Natarajan said competition for talent and rising compensation were forcing companies to look elsewhere.
Source : 24-12-12   Hindu Business Line   Compiled by
One-Third Of UK Workforce Looking For New Jobs
As many as a third of workers in the U.K. say they are looking for alternative employment opportunities. According to business performance consultants Lane4, about half of them are concerned about where their career is headed. In a study, it found that communication is a serious problem, with some three fourths of the respondents saying their bosses do not communicate with them effectively. Nearly nine out of ten said they do not get enough training and guidance for their jobs, the study said. Workers also complained about the lack of appreciation. Almost half of them said their organizations do not celebrate, nor communicate, company successes. More than a third of workers reported poor dynamics in their team. Adrian Moorhouse, managing director of Lane4, said business leaders must develop a connect between their visions and strategies to drive employee engagement.
Source : 24-12-12   Financial Express   Compiled by
Lean Production Can Boost Productivity In Services
Lean production can minimize error rates and increase overall responsiveness and customer satisfaction in the service industry. However, companies have been slow to apply the principle of lean production for obvious reasons. Unlike in manufacturing, waste and inefficiency are rarely noticeable in services. White-collar workers too may be resistant to the idea that their work could be standardised. However, this lack of standardisation is costly. Complex, inefficient processes are slower and decrease overall responsiveness and customer satisfaction. By streamlining their service processes, most companies can cut expenses by 10 percent to 30 percent and improve customer satisfaction. In some processes, sharing of duties can improve overall productivity levels. For instance, workers in the fast-food industry often share the workload by taking on different roles during peak hours. They switch between taking customer orders, serving food and so on.
Source : 24-12-12   Business Standard   Compiled by
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